Wabash National Corporation Announces Stock Repurchase Program
19 December 2014 - 8:35AM
Wabash National Corporation ("Wabash" or "the Company") (NYSE:WNC)
today announced that its board of directors has authorized the
Company to repurchase up to $60 million of its common stock over a
two year period ending on December 31, 2016. Stock repurchases
under this program may be made in the open market or in private
transactions at times and in amounts determined by the Company. The
Company, at its sole discretion, may limit or terminate the stock
repurchase program at any time based on market conditions,
liquidity needs, or other factors. The program is intended to
enhance shareholder value by reducing the overall number of
outstanding shares, including by offsetting dilution resulting from
stock-based compensation programs.
Dick Giromini, President and Chief Executive Officer, said, "We
are pleased that the continually strengthening financial
performance of the Company has put us in a position to implement
this program, and we are taking this action as part of our ongoing
commitment to reward shareholders based on the confidence we have
in Wabash's earnings, cash flow, and growth potential. Going
forward, we expect to continue to execute our capital allocation
strategy of maintaining strong liquidity, deleveraging our balance
sheet, returning capital to shareholders, and investing in the
business, both organically and acquisitively, in ways that will
continue to meaningfully strengthen shareholder value."
About Wabash National Corporation
Headquartered in Lafayette, Indiana, Wabash National Corporation
(NYSE:WNC) is a diversified industrial manufacturer and North
America's leading producer of semi-trailers and liquid
transportation systems. Established in 1985, the company
specializes in the design and production of dry freight vans,
refrigerated vans, platform trailers, liquid tank trailers,
intermodal equipment, engineered products and composite products.
Its innovative products are sold under the following brand names:
Wabash National(R), Transcraft(R), Benson(R), DuraPlate(R), Walker
Transport, Walker Defense Group, Walker Barrier Systems, Walker
Engineered Products, Brenner(R) Tank, Beall(R), Garsite, Progress
Tank, TST(R), Bulk Tank International and Extract Technology(R). To
learn more, visit www.wabashnational.com.
Safe Harbor Statement
This press release contains certain forward-looking statements
as defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements convey the Company's current
expectations or forecasts of future events. All statements
contained in this press release other than statements of historical
fact are forward-looking statements, including statements regarding
the implementation of the repurchase program and the Company's
capital allocation strategy. These forward-looking statements are
subject to certain risks and uncertainties that could cause actual
results to differ materially from those implied by the
forward-looking statements. Without limit, these risks and
uncertainties include changes in economic conditions, changes in
the Company's business and results of operations, access to
capital, availability of alternative uses of capital, and other
risks, including those set forth in the various disclosures made by
the Company's filings with the SEC.
CONTACT: Press Contact: Dana Stelsel
Corporate Communications Manager
(765) 771-5766
Wabash National Investor Relations:
(765) 771-5310
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